Imran Khan's comments egregious insult to all citizens of India: MEA

11 Février, 2019, 03:15 | Auteur: Anatole Charbonneau
  • Says region has yet to recover from global financial crisis and other economic dislocations over the past decade

She said during the meet with Khan which was "good and constructive" they discussed recent "economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program".

The prime minister appreciated the IMF's support to Pakistan and shared his vision for nation-building, according to a press statement issued by the Ministry of Finance.

Khan also tweeted about his meeting with Lagarde.

The IMF is asking for an adjustment of around Rs1,600-2,000 billion over three to four years. Pakistan also got $3 million in loans from UAE to support its economy.

But the stumbling issue in the talks is the pace of adjustments in the current expenditure.

According to the official, there is some space for cut in certain expenditures where Pakistan is in a comfortable position.

The IMF has been demanding that the burden of any expenditure cuts should fall on current expenditures that include debt service, defence and subsidies.

Finance Division's Spokesperson Dr Khaqan Najeeb told Dawn that productive dialogue continues with IMF on all areas including fiscal, energy, structural reforms and monetary policy.

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The two sides agreed to work together on policy priorities and reforms aimed at reducing imbalances and laying the foundations of a job creating growth path in Pakistan.

"In addition, technical level subject-specific discussions also support the process of overall dialogue", he said.

"We are already towards target in these areas", the official said, adding that the International Monetary Fund has acknowledged these measures.

According to the official, Finance Minister Asad Umar has already conveyed to the International Monetary Fund during the recent parleys that only those measures will be taken which are favourable for country's economic growth.

Islamabad also secured $6 billion in funding from Saudi Arabia and struck a 12-month deal for a cash lifeline during Khan's visit to the kingdom in October.

Saudi Arabia's assistance was part of the United States dollars 6 billion bailout package - USD 3 billion balance-of-payments support and another USD 3 billion in deferred payments on oil imports - which Riyadh had agreed in October past year.

Reports in Pakistani media had on Friday quoted Imran Khan saying that his government would ensure equal status and rights to all minorities living inside Pakistan.

Earlier, officials said that Pakistan would seek around Dollars 8 billion from the IMF which would be the biggest package by the Fund for Islamabad.

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